Gov’t Claimants Want Insys Bankruptcy Converted To Ch. 7 – Law360

Law360 (September 25, 2019, 8:52 PM EDT) -- The team leading the plaintiffs in the national opioid litigation case pending in Ohio federal court asked a Delaware bankruptcy judge to convert the Chapter 11 case of opioid maker Insys Therapeutics to a Chapter 7 liquidation because the company has sold off the bulk of its assets and is no longer operating in a meaningful way.

In its motion for conversion, the court-appointed claimants' leadership team said it is made up primarily of local, county and state government entities, with hundreds of claims against Insys for costs incurred in responding to the national opioid crisis, and that every day the...

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Gov't Claimants Want Insys Bankruptcy Converted To Ch. 7 - Law360